Bitwise Bitcoin ETF Trust (BITB) is currently among the top 5% of exchange-traded funds (ETFs) by assets under management (AUM) that have been launched in 2023.
The ETF Process at Bitwise
Hunter Horsley, co-founder and CEO of asset manager Bitwise, announced on January 18 that BITB had acquired an additional $68 million in Bitcoin (BTC). Horsley highlighted that this brought the total asset inflow to BITB over the last four days to $370 million. Nate Geraci, president of investment advisory firm ETF Store, mentioned in a post that with an AUM of $355 million, BITB ranked as the 25th largest AUM among over 540 ETFs launched in 2023.
However, according to an ETF tracker created by Sprout Finance, BITB’s AUM has depreciated since the writing of this article and is currently around $290 million. According to Bloomberg ETF analyst Eric Balchunas, the newly launched spot Bitcoin ETFs performed better than the other 500 ETFs launched in 2023 as of January 16.
Comments from a Bloomberg Analyst
While other ETFs achieved a volume of $450 million on that day, spot Bitcoin ETFs attracted three times more money, reaching a total volume of $1.8 billion. Data shared by Bloomberg Intelligence analyst James Seyffart shows that the overall trading volume in new spot Bitcoin ETF products reached $10 billion over the last three days.
Among the newly launched spot Bitcoin ETFs, BITB ranks fourth by AUM, while BlackRock’s iShares Bitcoin Trust (IBIT) leads with nearly $500 million. Fidelity’s FBTC and Wisdomtree’s BTCW are in second and third place with $427 million and $321 million, respectively. Bitwise Bitcoin ETF Trust (BITB), being in the top 5% by assets under management, has seen an asset inflow of $370 million in the last four days, purchasing $68 million worth of Bitcoin. There are conflicting reports regarding its AUM value, but it holds a significant position in the ETF market.
